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2018 COLAs Not Affected by Tax Cuts & Jobs Act

(February 6, 2018) In News Release IR-2018-19, the IRS announced today that the Tax Cuts and Jobs Act of 2017 did not affect the tax year 2018 limits for retirement plan (including IRA) contributions and benefits as previously announced in IR 2017-177 and Notice 2017-64.

While new law has made changes in how the cost-of-living adjustments are made, and will rise more slowly due to new parameters, after taking the new rules into account, the IRS determined the amounts for 2018 remain unchanged.